Tuesday, April 24, 2012

EUR crosses

EURGBP daily
EURGBP has really been respecting the fib swing from the Oct08 lows to Dec08 high and we are still in the range of that swing. So now we re back at the 78fib and swing highs from the summer 08 again it should bounce this is a major pivot zone.

Weekly chart
Bigger picture I think this level breaks and we go to 0.79 then 0.77

EURAUD
I bought the break of the bear flag I posted on twitter last week. I am still long. Upside target 1.3167 with a bump at 1.2970

EURJPY daily
Not as bullish as it looks because we haven't taken out the last (Oct11) swing high but holding above the 105.70 pivot level is positive. Below 105.70 I would be a buyer at 101.36 for a massive inverse head and shoulders reversal.

EURCHF daily chart
I am not long, I have been selling little rallies and exiting on dips to 1.20 The fibonacci pattern, the chart pattern, and the fact that the whole world and his dog is long EURCHF tells me to be flat or short. I do not know the political mechanism that would get us there but my target is 1.1890 and I would buy it there

Tuesday
I am long EURAUD from last week and I bought some EURUSD and WTI crude today. WTI stuck at the weekly pivot level 103.80, I already have half off and will exit if we can't clear this level soon I am not holding overnight. EURUSD is a swing back to the top of the wedge 1.33 level but may hold half for an upside break

EURUSD is in a big daily wedge so Im buying the bottom and selling the top. On Friday when we broke above and closed above the 1.32118 last swing high I wanted to buy a pullback.I missed the entry Monday afternoon because of a Dr appointment.I missed the overnight entry long off the (highlighted) pivot so I bought the next dip back to the pivot at the US open.Hope that makes sense, here is my hourly chart I used to enter with arrow.http://twitpic.com/9e093k/full